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Lower electricity prices in 2014
statistikk
2015-02-25T10:00:00.000Z
Energy and manufacturing;Prices and price indices
en
elkraftpris, Electricity prices, electricity prices, power prices, fixed prices, spot prices, grid rent, end user market, wholesale market, consumer groups (for example households, service industries, power-intensive manufacturing)Producer and wholesale price indices, Energy , Prices and price indices, Energy and manufacturing
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The quarterly statistics cover prices in the end-user and wholesale market. The average price of electricity for households was 12 per cent lower in 2014 than in 2013.

Electricity prices, Q4 2014

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Lower electricity prices in 2014

The average price of electricity for households in 2014, excluding taxes and grid rent, was 30.6 øre per kWh. This is 12 per cent lower than in 2013.

Electricity prices in the end-user market, quarterly. Øre/kWhPublished 25 February 2015
4th quarter 2014Change in per cent
Øre/KwHLast 3 mos.Last 12 mos.
1New fixed-price contracts are entered into the last 3 months before the measuring period, and older fixed-price contracts are entered earlier.
Households. Total price of electricity, grid rent and taxes85.10.2-4.7
Electricity price31.70.3-11.0
Grid rent26.00.0-1.5
Taxes27.40.40.4
 
Households. Electricity price by type of contract. Exclusive taxes
New fixed-price contracts-1 year or less133.5-2.9-9.7
New fixed-price contracts-1 year or more132.5-0.9-13.1
All other fixed-price contracts34.3-10.2-6.3
Contracts tied to spot price30.40.3-11.4
Variable price (not tied to spot price)34.76.8-9.4
 
Business activity. Electricity price. Exclusive taxes
Services30.51.7-11.6
Manufacturing excl. energy-intensive manufacturing29.1-0.3-9.6
ManufacturiEnergy-intensive manufacturing29.70.01.7

Source: Statistics Norway

The average electricity price, excluding taxes and grid rent, for service industries and manufacturing, excluding power-intensive manufacturing, decreased by 14 and 15 per cent respectively from 2013. Contracts linked to the elspot price were the least expensive in 2014. These types of contracts also had the greatest decline from the year before. The decline in the electricity price may be seen in conjunction with increased power production and warm temperatures in 2014.

The overall average price of electricity for households, including grid rent and taxes, amounted to 83.7 øre per kWh in 2014. This is 5 per cent lower compared to 2013. The electricity price was 30.6 øre per kWh, and the grid rent and taxes came to 26 and 27.1 øre per kWh respectively.

Spot contracts cheapest

Households tied to spot price contracts paid 28.7 øre per kWh on average, excluding grid rent and taxes, while the price of variable price contracts amounted to 34 øre per kWh. New fixed-price contracts lasting one year or less and fixed-price contracts lasting one year or more totalled 33.6 and 34.4 øre per kWh respectively. Other fixed-price contracts amounted to 36.4 øre per kWh.

Lower elspot prices for service industries and manufacturing

For service industries tied to elspot price contracts the price excluding grid rent and taxes decreased by 15 per cent to 28.2 øre per kWh. For manufacturing excluding power-intensive manufacturing, the elspot price amounted to 26.9 øre per Kwh. This is 16 per cent lower than in 2013.

Most of the electricity sold to power-intensive manufacturing is sold through fixed-price contracts and contracts not entered in the market. The average price of electricity excluding taxes and grid rent was 29.5 per cent; a 2 per cent increase compared to 2013.